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Feb 12 - 05:55 AM

USD/JPY - Bulls Really Need A Third Close Above A Broken Fibo

By Martin Miller  —  Feb 12 - 03:35 AM
  • USD/JPY saw two closes in a row above the 149.17 Fibo on Thursday and Friday

  • 149.17 Fibo is a 76.4% retrace of the (Nov-Dec) 151.92-140.27 (EBS) drop

  • There needs to be a Monday close above the 149.17 Fibo to add to the upside

  • That would increase the scope for bigger gains to retest Nov 149.99 high

  • A close above below 149.17 on Monday would unmask the tenkan line at 147.74

  • EUR/JPY has seen a 160.65-161.09 range, so far, according to EBS data

  • USD/JPY Trader TGM2336. Previous update nL1N3EU0FO

Source:
Refinitiv IFR Research/Market Commentary

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